| Anglo's Once-Unloved Coal and Iron Ore Make the Most Money | |
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Just two years ago, Anglo American Plc wanted to get out of iron ore and coal. Today they’re the mining giant’s cash machines. The two bulk materials, used in energy and steelmaking, delivered almost 60 percent of the century-old miner’s profit last year, eclipsing traditional favorites diamonds, copper and platinum. The bumper profits from bulks allowed the company to almost halve its debt last year and pay the highest dividend in a decade. Selling out of bulk commodities was central to a radical strategy to cut debt and bring the company back from the brink following the commodity crash in 2015. Before it could put the plan into action, however, the prices recovered and other self-help measures started to pay off. Today, Anglo is committed to iron ore and coal. More from Bloomberg.com: The Two Words That Will Help Get an Airline Upgrade Over the Phone “The bulks have a fair bit of capital spent on them in the last few years, so our focus now is work those assets, deliver cash flow, deliver returns,” Chief Executive Officer Mark Cutifani said Thursday. Yet even as platinum and diamonds underperform bulk materials, Anglo will remain the preeminent producer of those commodities. It owns the best mines in the world, especially through its De Beers unit, and the company’s position in those markets means it’s better able to withstand any future fall in prices. More from Bloomberg.com: Mueller’s Move on Ex-Skadden Lawyer Puts Heat on Manafort, Gates More from Bloomberg.com Read Anglo's Once-Unloved Coal and Iron Ore Make the Most Money on bloomberg.com |
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Anglo American plc
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PRODUCER |
CODE : AAL.L |
ISIN : GB00B1XZS820 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Anglo American is a nickel and zinc producing company based in United kingdom. Anglo American produces nickel, zinc, chromium, copper, gold, manganese, molybdenum, platinum, silver, uranium and zircon in Australia, in Brazil, in Canada, in Chile, in Namibia, in Peru, in South Africa and in Venezuela, develops coal, copper, gold and molybdenum in South Africa, and holds various exploration projects in Brazil. Its main assets in production are RUSTENBURG SECTION, MAMATWAN, MPONENG (WESTERN DEEP NO. 1 SHAFT), TAUTONA (WESTERN DEEP NO.3 SHAFT), MARIKANA, WESSELS and PALABORA MINE AND SMELTER in South Africa, COLLAHUASI MINE, MANTOS BLANCOS and MARICUNGA in Chile, CODEMIN in Brazil, NAVACHAB MINE and SKORPION MINE in Namibia, LOMA DE NIQUEL in Venezuela, GEMCO in Australia, QUELLAVECO in Peru and CALLINAN MINE in Canada, its main assets in development are ZONDAGSFONTEIN and PEBBLE in South Africa and its main exploration properties are LISHEEN and RATHDOWNEY TREND / MOATE in Ireland, SAN FERNANDO and PINABETE in Mexico, 777 PROJECT, BAY PAINE, NUVILIK, MUSKOX, RIVER VALLEY, RAGLAN / BELANGER and WEST RAGLAN in Canada, BOYONGAN (NORTH) in Philippines, RAKKURIJARVI in Sweden, ATASPACA and ANTAY in Peru, KOLWEZI in Congo Dem. Rep. of, SALOBO and ARIPUANA / AREX in Brazil, PLATREEF and SPITZKOP ZINC in South Africa and ZAMBEZI in Zambia. Anglo American is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 2 743.2 billions as of today (US$ 3 281.7 billions, € 2 874.8 billions). Its stock quote reached its lowest recent point on May 12, 2017 at GBX 1 001.00, and its highest recent level on March 28, 2024 at GBX 1 951.80. Anglo American has 1 405 465 000 shares outstanding. |